CBM Asia Development Corp.
CBM Asia Development Corp.
Symbol: TCF.V
Exchange: TSX
Shares Outstanding: 32.726 million
Market Capitalization: 9.000 million
Share Price: $0.275
Telephone: (604) 687-7551
Website: www.cbmasia.ca
CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in
The Company is in a process to acquire a participating interest in a production sharing contract on a 58,349 hectare block located in the
The Company has also committed to fund an initial US$3.25 million in exploration expenditures on the Sekayu PSC to prove reserves and submit a Plan of Development to the Government of Indonesia.
The Company also has an 18% net working interest in a CBM PSC on a 76,000 hectare block located in the Kutai Basin of East Kalimantan.
As geotechnical lead, the Company is responsible for directing a US$5.6 million exploration and appraisal program over the next three years (to November 2011), to determine commercial feasibility of CBM production for the Kutai-West PSC and submit a Plan of Development to the Government of Indonesia. The Company has 40% net working interests in a second 56,500 hectare block also in the prolific
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